GBPUSD Weekly Analysis – July 14, 2019

GBPUSD stays in a falling price channel on the daily chart and remains in the downtrend from 1.3381. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 1.2250 area. Key resistance is at 1.2783, only break above this level could signal completion of the downtrend.

GBPUSD daily chart